Research background: Balanced state development is impossible without sustainable human development. In turn, corruption has a significant impact on the level of human development, since a high level of corruption leads to an unfair distribution of income and resources and exacerbates inequality...

The issue of introducing a vulnerability indicator in an aid allocation formula such as the Performance Based Allocation (PBA) used by several Multilateral Development Banks (MDBs) has been discussed for a long time. Three reasons make it particularly desirable to now reconsider the issue.

In this paper, cointegration and causality relationship among human development (HDI), financial development (FDI) and sustainable development (ESG) for five CEECs are investigated. In the study covering the period 1990-2022, Hatemi-J (2008) test was used to investigate cointegration...